Petrobras Can Keep Lid On Risk Docs In $400M Oil Rig Suit

Law360 (March 16, 2018, 9:18 PM EDT) -- Petrobras Americas Inc. can hang on to documents said to have forecast the economic risks of its plan to drill in the Gulf of Mexico, a Texas magistrate judge said Thursday, ruling that the financial information is unlikely to help Spanish manufacturer Vicinay Cadenas SA in a $400 million suit over its allegedly defective component used in an offshore rig.

U.S. Magistrate Judge Stephen William Smith said the oil giant could ignore Vicinay's request that it produce certain "financial valuations'' or "economic risk analyses" thought to relate to Petrobras' claims for lost profits against the Spanish company.

Petrobras and its insurers...

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